RINES ANGEL FUND 2018 - 2019 Annual REPORT
Letter From co-managing directors
For four years now, The Rines Angel Fund has been offering students the unique opportunity to perform as angel investors in addition to their normal coursework at the University of New Hampshire. The Fund continues to offer its members experiential and real-world opportunities unlike any other they have during their time as an undergraduate. Throughout this academic year, the Fund continued with their commitment to uphold this standard of learning while simultaneously sourcing outstanding investment opportunities and strengthening its internal affairs.
This year, Rines students actively attended monthly meetings for our angel partners 10X Venture Partners, the eCoast Angel Network, and Northeast Angels. During these meetings, members observed pitches, met startup founders, and sought deals to pitch to the Fund. This opportunity, only available to Rines students, afforded them the chance to see exactly how private equity groups operate here in New Hampshire. These continued partnerships, fostered by Rines members, are invaluable to their learning and to the Fund’s ability to connect with NH-based startups.
In addition to regularly scheduled angel meetings, a number of members participated in industry events including the New Hampshire Tech Alliance’s TechOut and Speed Venture Summit. At these special events, students were able to meet a number of founders and offer their insight and research expertise to industry professionals who were also looking at investing opportunities. Attending members refined their networking, due diligence, and communication skills.
This academic year, Rines students were pitched to by and did research on 10+ companies operating in the area and moved forward with two investments. The Fund’s investments this year were made in a life sciences company, Meenta, and STEM education, game company. Unruly Studios. Both investments add diversity to the Fund’s growing portfolio, and show exciting promise in their respective industries. Included in the 10 startups that pitched were three UNH student-founded and operated companies. Since the Fund cannot invest in UNH student-operated companies, Rines offered the student founders strategic recommendations on how to best prepare for pitching to investors. By sharing our perspectives, we hope to help fuel continued innovation in the greater UNH community.
Academic year 2018-2019 marked an important shift in the Fund’s internal operations. With four years of impressive growth and learning under its belt, the Fund was able to shift its focus to sustainability and internal affairs. The Executive Committee was focused on encouraging all members to take on initiatives that were important to them, which resulted in the creation of three member-run projects. These projects include an annual event for the Fund called the Rines Angel Investment Forum (set for October 4th, 2019) which will bring together industry experts to speak on their experiences as investors and entrepreneurs. Members also took on research and data collection projects, and alumni relations initiatives. It has been exciting to see how members have taken on these projects, while at the same time the caliber of Due Diligence and pitches have continued to improve.
As the AY 2018-2019 year came to a close, we were humbled to look back on all that has been accomplished. Moving into next year, the Fund is well-positioned for another year of success. With a motivated Executive Committee, ambitious members, and supportive UNH faculty, staff, and alumni, the Fund is poised to have yet another “best year yet.” We are appreciative and humbled to have worked with such an incredible team this year and cannot wait to see how the Fund continues to grow.
Zachary Dresser ‘19 and Devin McMahon ‘19
Co-Managing Directors, 2018 - 2019